In a notable move, Worldcoin, the decentralized identity project led by OpenAI CEO Sam Altman, has announced an extension of lockup periods for early investors and team members. This announcement propelled the project’s native token, WLD, to surge by 15%, now trading at $2.457, up from $2.147. This rise compounded a daily gain of 26%, according to CoinDesk data.

“The unlock schedule for 80% of the WLD held by TFH’s (Tools for Humanity) team members and investors is being extended from 3 to 5 years,” Worldcoin detailed in a blog post. This adjustment means the vesting process will now extend gradually until 2029, a shift from the initial plan. Typically, token unlocks are perceived as bearish events due to the increase in circulating supply, which offers early investors an opportunity to liquidate their holdings in the open market.

Worldcoin, spearheaded by Sam Altman, garnered significant attention last year, raising $115 million in a Series C funding round aimed at accelerating the global onboarding of individuals into the Worldcoin decentralized ID system. The circulating supply of WLD currently stands at 275 million, with 77% originally claimed by World ID holders. Under the revised schedule, the circulating supply is projected to reach 400 million in September, as opposed to the initial target of August.